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Main Trend

Current Trend

The trend was up the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

1:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was valid entry.

The entry was at the close of the candle at 1.6333 with a stop at the most recent swing low at 1.6322. Since I was 17 pips away from the nearest 50 or 00 level, I decided to set my initial target at 1.6350.

Entry: Long at 1.6333 Stop: 1.6322 Target: 1.6350

2:45am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.6347. (+14 pips)

10:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

entry2

Trade Result: +14 pips R-Multiple: 1.30; 1.27

News events to watch for Thursday:

For a complete list of news events check out our Forex Economic Calendar.
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